Swick, you may want to also take a look at another insurer, HALL. Similar to KINS, they are getting out of a portion of their business which has killed them in recent years (auto liability). They took a huge charge last quarter (mostly intangibles)....they reported that December quarter one week ago, and stated today that they will file their March quarter in the next week or two, and that their June quarter will be filed on time.
The risk here is greater than KINS, but so is the possible reward. Its risky b/c there may still be some big charges related to their auto business.
But they are trading at $2.94, which gives them a market cap of around $53.5 million, and they have tangible book value of around $213 million. Obviously there are lots of investors who believe the risk is very high here.
If they can get through this over the next few quarters, and get rid of their 'bad business', shares could move much higher. They have two analyst; one has an estimate of .60/share of 2021, the other's estimate is $1.25. So if they can get through this period, they could start posting very strong numbers.
I bought HALL as a R2000 deletion two weeks or so ago, and flipped out of most for a nice gain. But I have started buying some back today.
Again, this is a risky play.
best.
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